Following its $80 million Series B funding round several months ago, Course Hero has completed the acquisition of Symbolab, an AI-driven calculator designed to assist students in both solving and comprehending challenging mathematical problems.

The financial details of the transaction have not been revealed. The Symbolab team, comprised of nine individuals located in Tel Aviv, will be integrated into Course Hero. According to Andrew Grauer, CEO of Course Hero, both platforms will initially maintain their distinct branding.

Established in 2011, Symbolab functions as a sophisticated calculator and problem solver, projected to process one billion questions this year. The service specializes in advanced college-level mathematics, providing detailed explanations and proofs for complex geometry problems.

At its foundation, Course Hero operates as a question-and-answer resource. Integrating a calculator and a company possessing a substantial dataset of frequently asked math questions is expected to strengthen Course Hero’s math offerings, which are already a popular subject among its student base. This service will be made available to Course Hero subscribers as an added benefit.

The concept of utilizing a computational engine to support students encountering difficulties is becoming increasingly prevalent. In the context of remote learning, adaptability is crucial for students who may struggle with their coursework. While teachers and tutors have limited availability, an AI-powered technological solution could offer a continuous, 24/7 resource that students can depend on – and for which they are willing to pay.

Symbolab shares similarities with Wolfram Alpha, a well-known computational engine. While Grauer acknowledges Wolfram Alpha as a “powerful tool,” he believes Symbolab excels in providing greater depth and more comprehensive explanations. Other major companies have also entered this space, such as Google, which acquired the homework assistance app Socratic in 2019, and Microsoft, which developed Microsoft Solver in the same year.

Grauer considered both developing the technology internally and acquiring an existing company. He ultimately chose to acquire Symbolab because the true potential of artificial intelligence is realized through the accumulation of data over time. Symbolab’s nearly decade-long history provides valuable back-end information. Grauer expresses enthusiasm about approaching the problem-solving process in a unique way compared to Google and Microsoft.

“It’s not something you can achieve quickly,” he stated. “The focus is on obtaining the correct answer, but equally important is delivering step-by-step solutions that are genuinely helpful.”

Consolidation activity remains relatively uncommon within this sector, which has historically received limited funding. Edtech acquisitions have been increasing, but at a gradual pace. In 2018, there were fewer than 40 edtech acquisitions, while fintech saw 193 acquisitions, as reported by Crunchbase.

However, given the broader growth of edtech, this acquisition appears logical. Course Hero recently secured its largest funding round to date, surpassed $100 million in annual recurring revenue, and achieved profitability. This financial stability likely enabled the company to afford the acquisition. In 2012, Course Hero previously acquired Cardinal Scholars from the founders of InstaEdu.

Grauer anticipates that Course Hero will pursue further acquisitions across various subject areas in the future. He believes the next five to ten years will witness an increase in acquisitions within the edtech industry.

“Looking back 15 years, the number of education technology companies was considerably smaller,” Grauer said. “Now, there are enough companies that have reached a sufficient scale, possess metrics related to distribution, and have established product-market fit during their growth phase.”

Editor’s note: This article initially stated that Course Hero bought InstaEdu in 2012. This was incorrect. The company acquired Cardinal Scholars, from the founders of InstaEdu. The article has been updated to reflect this correction.